Deep Medicine Acquisition Corp. Announces Listing Transfer to the Nasdaq Capital Market
February 16 2023 - 4:25PM
Deep Medicine Acquisition Corp. (Nasdaq: DMAQ) (the “Company”)
announced today that it has received approval from the Nasdaq Stock
Market (“Nasdaq”) to transfer the listing of its securities from
the Nasdaq Global Market to the Nasdaq Capital Market. The
Company's Class A common stock and rights will continue to trade
under the symbol “DMAQ” and “DMAQR,” respectively and trading of
its Class A common stock and rights will be unaffected by this
transfer. This transfer will be effective as of the opening of
business on February 17, 2023.
As previously disclosed, the Company received a
letter from Nasdaq on January 22, 2023 indicating that the Company,
following the stockholder redemptions at its last stockholder
meeting, is not in compliance with Listing Rule 5450(b)(2), due to
the Company’s failure to meet the minimum 1,100,000 publicly held
shares requirement for continued listing on the Nasdaq Global
Market. Upon the transfer of listing of the Company's securities on
the Nasdaq Capital Market on February 17, 2023, such deficiency
would be resolved.
About Deep Medicine Acquisition
Corp.
DMAQ is a special purpose acquisition company
formed for the purpose of entering into a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
other similar business combination with one or more businesses or
entities. DMAQ began trading on the Nasdaq in October 2021, and its
Class A common stock and rights are traded under the ticker symbols
DMAQ and DMAQR, respectively.
Cautionary Note Regarding
Forward-Looking Statements
This press release may include, and oral
statements made from time to time by representatives of the Company
may include, “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Statements
regarding possible business combinations and the financing thereof,
and related matters, as well as all other statements other than
statements of historical fact included in this press release are
forward-looking statements. When used in this press release, words
such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the Securities and Exchange
Commission (“SEC”). All subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are
qualified in their entirety by this paragraph. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s registration statement and
prospectus for the Company’s initial public offering filed with the
SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Contact
Humphrey Polanen, Chief Executive OfficerDeep
Medicine Acquisition Corp.595 Madison Avenue, 12th FloorNew York,
NY 10017ir@dmaq-spac.comTelephone: (917) 289-2776
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